Best wish is for a normal new year

Compared with the gloom which ushered it in, 2013 has turned out to be not without some sparkle. The FTSE 100 met most of the expert forecasts for where it would end the year by late spring.

Fears of a triple-dip recession evaporated as confidence trickled back into the economy and services and manu-facturing began pumping again.

Such momentum has fund managers thinking the best for 2014. Bring on the markets boom and a frenzy of mergers and acquisitions. What could go wrong?

Certainly, the FTSE is playing catch-up with other indices. Now the commodities cycle is turning again, there is every chance stocks will push ahead. Chief executives are striking out with new strategies to hire and expand.

However, consumer spending will come under pressure as interest rate rises near and the end of central banks’ money printing could lead to bumps in the road. Is it the return of boom-boom Britain? Not quite. Getting back to normal will do for now.